Subcontractor Default insurance

Cove SDI keeps projects moving if a subcontractor defaults

Subcontractor Default Insurance is a highly specialized product providing coverage to general contractors for direct and indirect costs of subcontractor defaults.

Our SDI product is aimed at general contractors with annual volumes of $50 million to $2 Billion of annual construction value.

SDI was developed as a response to GC’s issues with subcontractor bonds and the delays and lack of control when a default happens. SDI puts the general contractor in control of any subcontractor default allowing it to make decisions in the best interests of the project.

We meet with every GC’s key management team to understand their business processes and design the best possible program for their business.

The Cove product
  • Indemnification coverage
  • 2 year policy 
  • Per Loss Limit up to $50,000,000
  • Policy Aggregate Limit up to $150,000,000
  • Indirect Cost Limit of $5,000,000
  • Minimum SIR of $625,000 and flexible co-pay options
  • Post completion coverage of up to 10 years on most projects
The cove commercial client
  • Annual Subcontract volumes of at least $50 million
  • Commercial General Contractors in the U.S., its territories/possessions, & Canada
  • Multi-Family Residential
  • Industrial/Manufacturing
  • Office/Retail Structures
  • Transportation
  • Commercial
  • Senior Living 
  • Hospitality
  • Healthcare facilities 
  • Government offices and facilities
  • Educational structures/schools/religious

Please click here for Ten Reasons To Choose Cove: SDI

Please click here for information on Cove Claims.

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